JDS Development Group, Property Markets Group’s Stella Tower is 60 percent sold one month after hitting the market, The Real Deal has learned exclusively.
The Art Deco building, developed in partnership with Starwood Capital Group at 425 West 50th Street, was named for the wife of architect Ralph Walker, has signed contracts for 31 out of its 51 residences. The prices were $2,000 square feet on average, with some signed for over $3,000 per square foot, a spokesperson for the development told TRD.
The property offers up a mix of one- to three-bedroom residences ranging in size from 1,000 square feet to 2,200 square feet, with asking prices from $1.8 million to $6.2 million. The four penthouse units are north of 3,600 square feet, and priced at between $10 million and $14 million.
Douglas Elliman Development Marketing’s Vickey Barron and Michael Graves are the exclusive marketing and sales agents. Barron is also sales director at Stella’s sister property Walker Tower, where she picked up her own one-bedroom pad last month for $2.29, as The Real Deal reported at the time. — Julie Strickland